Monday, 3 July 2017

One In Seven Private Renters Spend Half Their Income On Rent

A shortage of affordable housing is leaving a generation stuck in a “rental logjam”, warns the Local Government Association (LGA). Analysis shows that almost one in seven private renters (14 per cent) are spending more than half of their total income on rent. Local government leaders said the figures highlight the difficulties renters face not just in finding an affordable home to live in, but in saving up a deposit for a home of their own, with the average deposit now costing 71 per cent of a first time buyer’s annual income.   The LGA is calling for the Government to enable the building of a new wave of rented homes that reflect what families can actually afford – no more than a third of total household incomes. Read more on the LGA website.

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